Happy New Year! As we get ramped up for the new opportunities and challenges of 2021, it’s important to look back and understand how things closed up in 2020.

As we discussed in our last Sponsor Roundup, this series is built to highlight the news, insights, and culture of our esteemed sponsor base.  Paired with a few other content initiatives coming in 2021 including “Five Questions With” series, our Voice of the Community series (December’s topic is the Winter 2021 book list), and a few others, the Sponsor Roundup initiative will become a regular part of Controllers Council monthly programming.

Insights from Bill.com

Controllers Council Gold sponsor Bill.com delivers intelligent business payments solutions for small and medium businesses, helping to automate your PO-to-payment process and save 50% of your time on accounts payable. 

  • Bookkeeping in 2020: How the Industry Has Adapted and Positioned Itself for Future Growth: The year 2020 has been a challenging one for nearly every industry, but bookkeepers have proven to be resilient. Following their 2020 State of Bookkeeping Survey, Bill.com looked at the five top priorities for bookkeepers—growth, cloud adoption, technology service offerings, the role of a trusted advisor, and workflows. Learn more here.
  • ACH, EFT and eChecks: Which Is Right for My Business? Receiving money for services or products and paying for the necessities of your business can be a real challenge if you don’t have the right process in place. Finding the right balance of payments matters, and this starts with a firm understanding of ACH and EFT processes. Learn which is right for you here.
  • 7 Bill Pay Must-Haves for High-Net-Worth Clients: Trust is at the center of the advisor-client relationship. But establishing and maintaining this trust is often challenging, and these individuals need a specific focus. In this article, Bill.com looks at the seven must-have offerings to deliver for high net worth clients.
  • Bill.com and Wells Fargo Introduce Bill Manager to Help Businesses Pay and Get Paid with Increased Simplicity, Visibility and Control: In addition not their ongoing insights, Bill.com also announced a new service to help automate and simplify the accounts payable and receivable process for small to midsize businesses. This addition, titled Bill Manager, integrates the latest cloud-based financial operations software from Bill.com into Wells Fargo’s digital banking service, Commercial Electronic Office®, creating a paperless way for businesses to pay bills and get paid with simplicity, visibility, and control. Learn how it works here.

Looking to learn even more? Bill.com recently joined us for Achieving Finance Reinvention – 5 Steps to Real Transformation. This webinar looked at how businesses can remain relevant in their market, by focusing their efforts on reinvention. Learn more and watch this on demand here.

Analysis from Euler Hermes

We’re excited to add a new sponsor to our roundup, Euler Hermes. Euler Hermes is the worldwide leader in trade credit insurance and offers expert solutions such as surety bonds, debt collection, trade credit risk, political risk, credit management and business fraud insurance.

  • Accounts Receivable Insurance: Understanding the Benefits and Costs: Accounts receivable insurance – sometimes called A/R insurance or trade credit insurance – provides companies with protection against customers that fail to pay what they owe. Long used by European companies, this practice is gaining traction in North America. Learn more about the benefits and costs here.
  • What do CFOs Care About in 2020: Pain points, Challenges, & Trends: Today’s chief financial officers face more complex challenges than ever before. Their roles have evolved to include hiring and retaining a strong financial team, managing costs, consolidating data to help the company stay agile and learning about and integrating the newest technologies promising a significant return on investment. How did they change? Learn more in the Euler Hermes Report.
  • Growth Through Customer Bankruptcy: Although NAP Industries has been in business for nearly 60 years, they aren’t immune from the unexpected. In early 2019, one of their largest customers suddenly declared bankruptcy—and to say the bankruptcy was a surprise would be an understatement. Learn how Euler Hermes helped its customer grow

News from FloQast

FloQast is close management software built by accountants for accountants so they can close faster and more accurately.

  • New Survey Finds 2020 Chaos Presents Unprecedented Future Budget Planning Challenges for Controllers: Roughly two-thirds of controllers say COVID-19 has introduced new risks to the financial planning process, while nearly half say they’re concerned about overall economic factors. With such uncertainty surrounding 2021 planning, professionals are being affected in a variety of ways. Learn what’s changing in this news release and download the whitepaper here.
  • Financial Review vs. Audit: What’s Right for Me? When most people consider a process for verifying the information in a company’s financial reports, they think of an audit. In this article, FloQast explores the differences between a financial review and an audit to help clear up uncertainty. Learn more here.
  • Internal Audit vs. External Audit: What’s the Difference? When many people hear the word audit, their first thought is of a painful and grueling interrogation to uncover real or imagined misdeeds. But that misleading impression overlooks the foundational role that internal and external auditors play in the world of business. So what’s the difference between an internal and external audit? FloQast explains.

Controllers have faced a lot of challenges in 2020. This year has been a year that no company or executive could have accurately predicted due to unprecedented events. Get to know more about how companies plan to tackle 2021 with this new whitepaper from FloQast.

January 2021 CPE Courses from Illumeo

Keep up to date with CPE. Last month, we announced a partnership with Illumeo to provide Controllers Council Members with discounted CPE courses—as well as a few free ones every once in a while. So far, we have one upcoming course in January available for free.

2020 Year End Technical Accounting Review

Each year accountants and auditors must adjust to and implement numerous updates to accounting standards and requirements that are outlined by various bodies including the AICPA, FASB, COSO, PCAOB, SEC and others. This update will provide an overview of the most significant pronouncements, standards and advisories that have resulted from actions of these bodies.

In this CPE webcast, Illumeo will take a look at the most significant issues that may impact the auditing profession in Q1 of 2021 as well as trending areas important to the accounting profession. Click here to register.

Grateful for Our Sponsors

As the fastest-growing, national community and platform of controllers, accounting and finance professionals, and related executives, this growth would be impossible without the help of our sponsors. If you’re interested in joining our rapidly growing list of sponsors, learn more about the benefits here.

How Automation Can Solve Your Reconciliation ChallengesWebinar Tuesday, October 19

According to The Hackett Group, accountants and financial personnel spend 65% of their time on manual, low-value processes. These processes include reconciliations, meaning accountants are likely to be focusing the bulk of their time on repetitive tasks as they complete the period-end close. The challenges that come from spreadsheets and other manual methods of reconciliations don’t have to impact your entire organization; financial automation solutions can pave the way for many benefits and opportunities to maximize your accountants’ time and effort.